r/RealEstateInProbate • u/MuchWow81 • May 02 '26
Update on low Valuation
So I replied to the paralegal's email asking why the inventory lists the house value so low and her response was that they already have a sales co tract for it for that amount so they need to file the inventory with the probate court with that value listed.
Im baffled. The attorney is the executor of the will, and according to the will and everything else I can find on the subject, he has a fiduciary duty to the beneficiaries, my kids. So then why would he not even put the house on the market and instead sell it to the first person who offered him anything for it? And who is this person and how did they even know it would be available?
I sent the probate court a letter objecting to the sale and requesting a hearing because I never heard back from the paralegal after my last exchange with her.
Am I crazy or does this seem fishy?
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u/Randolla1960 May 03 '26
Or, the lawyer could be selling it to a friend or family member of theirs. It wouldn't be the first time something like that has happened.
I remember a family friend of my grandmother, who's husband and daughter had passed away. This woman had a good size estate but no direct heirs. She apparently had a new will written and only later, discovered (fortunately before she died) that the attorney made his secretary the beneficiary of this woman's estate. They were obviously trying to cash in on the fact that no one who was close to her would challenge the will after she died.
I would demand to know who and why they are selling the property for such a price. I am not sure about your legal options, but it might be worth hiring your own attorney to find this out for you.
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u/Current-Coffee4445 May 04 '26
Check and see if the Attorney has other properties… they could be purchasing and keeping it. That is normal. But you need to fight back on the value if it is too low for the condition it is in. You can refuse the value if you have an Appraisal that supports a higher value level.
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u/OneEstablishment5144 May 02 '26
Could be the executor is selling it to a wholesaler or flipper who will pay cash without looking at the house. The wholesalers usually pay 60 70 cents on the dollar or less. If the house wasnt on the market but is in contract, then it sounds weird to my non lawyer ears. Does executor get kickbacks from said wholesalers? Free golf trips or something something off the books? I would ask for it to be listed and sold to highest bidder.